A solar panel (also known as PV module) is a collection of solar cells carved from silicon wafers that generate electricity by capturing the sunlight. There are two types of solar cells: Crystalline silicon and thin-film. Thin-film cells can be deposited as thin layers that measure less than 1 micron. These cells are less expensive compared with silicon. These cells help manufacturers build solar panels of different sizes and shapes depending on the requirement of the consumers.

TechNavio's analysts forecast the Global Solar Panel market to grow at a CAGR of 11.8 percent over the period 2014-2019.

Covered in this Report

The Global Solar Panel market has been segmented into three divisions: Types, End-users, and Geography.

TechNavio's report, Global Solar Panel Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the EMEA and APAC regions; it also covers the Global Solar Panel market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.

Key Regions

Americas

APAC

EMEA

Key Vendors

Canadian Solar

First Solar

Jinko Solar

Sharp

Suntech Power Holdings

Trina Solar

Yingli Green Energy Holding

Other Prominent Vendors

Bosch Solar Energy

Hanwha SolarOne

JA Solar Holdings

LDK Solar

Panasonic

SolarWorld

Market Driver

Increased Solar Energy Consumption

For a full, detailed list, view our report

Market Challenge

Low Conversion Efficiency

For a full, detailed list, view our report

Market Trend

Increased Solar Energy Storage Facilities

For a full, detailed list, view our report

Key Questions Answered in this Report

What will the market size be in 2019 and what will the growth rate be?

What are the key market trends?

What is driving this market?

What are the challenges to market growth?

Who are the key vendors in this market space?

What are the market opportunities and threats faced by the key vendors?

Commenting on the report, an analyst from TechNavio’s team said: “One key trend emerging in this market is the increase in solar energy storage facilities. Development of these facilities influences many vendors to invest more in solar energy projects as this energy can be used during power outages.”

According to the report, increased solar energy consumption is one of the key drivers, which is expected to elevate the demand for solar panels during the forecast period. Increased awareness of the benefits of solar energy has resulted in higher production of solar panels. Moreover, the increased costs of fossil fuels have also led to increased investment in solar power.

Further, the report states that low conversion efficiency is one of the key challenges that the market faces. The energy conversion rate from solar panels is low, which affects the overall power generation of any solar power plant. With low energy generation, the profit margin of the operator will decline, which will discourage further investment in the industry.Canadian Solar , First Solar , Jinko Solar, Sharp , Suntech Power Holdings , Trina Solar , Yingli Green Energy Holding , Bosch Solar Energy, Hanwha SolarOne, JA Solar Holdings, LDK Solar, Panasonic, SolarWorld